413 Chestnut St · Franklin, VA 23851

$142,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 136 Days on market

Built 1948 $115/sqft · at area comps Est $147k · at est.

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +8.8/15.0
• 1% rule +6.0/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 413 Chestnut Street, a charming home located in the heart of Franklin, Virginia. This property offers a warm and inviting feel with a layout that provides both comfort and functionality. Situated on a quiet street, the home is just minutes from local shops, dining, schools, and parks, making everyday living convenient and enjoyable. Whether you’re a first-time buyer, looking to downsize, or searching for an investment opportunity, this home offers great potential. With its classic character and prime location, 413 Chestnut Street is ready for its next owner to make it their own. Don’t miss the opportunity to own a piece of Franklin’s charm.

Key facts

• Quiet street
• Parks
• Dining

Tags

• QUIET STREET
• LOCAL SHOPS
• DINING
• SCHOOLS
• PARKS
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).
• Recommended offer: $126k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.8% in Franklin — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 59/100 on livability (#461 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Franklin City Public School District (town): math 23% / reading 51% proficiency, ranked #127 of 131 in VA (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 137 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $988 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• GRM: 7.6

CMA / ARV

• ARV (median comp): $146,992
• List price: $142,900
• Delta: -2.78%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 Hall St	0.14mi	3/2.0	1,178 (-6%)	4mo	$75,000	$64	77
650 Hayden Dr	0.31mi	3/1.0	1,321 (+6%)	2mo	$140,000	$106	74
309 Edwards St	0.19mi	3/1.5	1,360 (+9%)	6mo	$80,000	$59	69
200 Delk St	0.41mi	3/2.0	1,300 (+4%)	4mo	$114,900	$88	67
311 Washington St	0.47mi	3/2.0	1,200 (-4%)	1mo	$240,000	$200	67
310 Bogart St	0.30mi	3/1.0	1,166 (-7%)	12mo	$70,000	$60	65
835 Cool Spring St	0.26mi	3/1.0	1,100 (-12%)	8mo	$185,000	$168	61
309 Stonewall St	0.54mi	3/2.5	1,192 (-4%)	13mo	$190,000	$159	51
313 Delk St	0.40mi	3/2.0	1,075 (-14%)	10mo	$214,900	$200	46
515 Middle St	0.72mi	2/2.0 (-1)	1,168 (-6%)	3mo	$89,900	$77	44
124 Holland Cir	0.51mi	4/2.0 (+1)	1,400 (+12%)	10mo	$227,000	$162	39
416 Cobb St	0.60mi	4/2.0 (+1)	1,433 (+15%)	3mo	$100,000	$70	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $107
• Equity at exit: $21,307

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $29,923
• Equity at exit: $12,355

Cash invested: $40,012 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23851

• Home prices YoY: -10.2%
• Active inventory: 137
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,571 medium
• Mortgage (P&I): −$749
• Tax from tax record: −$66 /mo · $793/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $366

Break-even live

Break-even rent $1,108

Max offer price $142,900

Occupancy floor 72%

Sensitivity live

Price	-10% $447	-5% $406	+0% $366	+5% $326	+10% $285
Rent	-10% $242	-5% $304	+0% $366	+5% $428	+10% $490
Rate	-1.0pp $438	-0.5pp $402	base $366	+0.5pp $329	+1.0pp $291

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $35,725
• Closing costs: $4,287
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Holland Cir Franklin, VA	3.0	1.0	1056	$1,800	$1.70	44d	1	0.51mi
2300 South St Unit 1 Franklin, VA	3.0	1.0	1350	$1,600	$1.19	44d	1	1.04mi
313 Council Rd Franklin, VA	3.0	1.0	1000	$975	$0.97	20d	1	1.17mi

Listing history 21 events

1. 2026-06-21
   days on market $142,900 Active 136 DOM
2. 2026-06-18
   days on market $142,900 Active 134 DOM
3. 2026-06-17
   days on market $142,900 Active 133 DOM
4. 2026-06-16
   days on market $142,900 Active 132 DOM
5. 2026-06-15
   days on market $142,900 Active 131 DOM
6. 2026-06-15
   days on market $142,900 Active 130 DOM
7. 2026-06-13
   days on market $142,900 Active 129 DOM
8. 2026-06-12
   days on market $142,900 Active 128 DOM
9. 2026-06-09
   days on market $142,900 Active 125 DOM
10. 2026-06-08
    days on market $142,900 Active 124 DOM
11. 2026-06-08
    days on market $142,900 Active 123 DOM
12. 2026-06-05
    days on market $142,900 Active 121 DOM
13. 2026-06-03
    days on market $142,900 Active 119 DOM
14. 2026-06-02
    days on market $142,900 Active 118 DOM
15. 2026-06-01
    days on market $142,900 Active 117 DOM
16. 2026-05-31
    days on market $142,900 Active 116 DOM
17. 2026-05-06
    price $142,900 677-char remark

    Show marketing remark (677 chars)

    Welcome to 413 Chestnut Street, a charming home located in the heart of Franklin, Virginia. This property offers a warm and inviting feel with a layout that provides both comfort and functionality. Situated on a quiet street, the home is just minutes from local shops, dining, schools, and parks, making everyday living convenient and enjoyable. Whether you’re a first-time buyer, looking to downsize, or searching for an investment opportunity, this home offers great potential. With its classic character and prime location, 413 Chestnut Street is ready for its next owner to make it their own. Don’t miss the opportunity to own a piece of Franklin’s charm.

18. 2026-02-04
    listed $149,900 Active 677-char remark

    Show marketing remark (677 chars)

    Welcome to 413 Chestnut Street, a charming home located in the heart of Franklin, Virginia. This property offers a warm and inviting feel with a layout that provides both comfort and functionality. Situated on a quiet street, the home is just minutes from local shops, dining, schools, and parks, making everyday living convenient and enjoyable. Whether you’re a first-time buyer, looking to downsize, or searching for an investment opportunity, this home offers great potential. With its classic character and prime location, 413 Chestnut Street is ready for its next owner to make it their own. Don’t miss the opportunity to own a piece of Franklin’s charm.

19. 2019-05-30
    soldstatus $125,000
20. 2007-11-06
    soldstatus $125,000
21. 2003-09-04
    soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $793 · $66/mo
• Projected year-2 tax: $1,172 · $98/mo
• Expected delta: +$379/yr (+$32/mo · 47.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,850
• − Mortgage interest: −$8,005
• − Property taxes: −$793
• − Insurance: −$714
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − Depreciation: −$4,157
• Taxable income: $2,165
• Est. tax owed @ 24.0%: −$520
• After-tax cash flow: $3,872/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Franklin City Public School District
• NCES district ID: 5101410
• Math proficiency: 23% ▼ -48.00%
• Reading proficiency: 51% ▼ -18.00%
• Median HH income: $35,138
• Composite: 30.47/100
• National rank: #6227
• State rank: #127 of 131 in VA

Livability — Franklin

• Score: 59/100
• State rank: #461
• US rank: #19645

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, VA
• Population (ZIP): 13,481

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 7,817 people
• By 2030: 7,480 · -4.3%
• By 2040: 6,803 · -13.0%
• By 2050: 6,124 · -21.7%
• By 2075: 4,484 · -42.6%
• By 2100: 2,967 · -62.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 45% White 44% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: -5.3pp toward R · 2008: 28.1pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+25.6 2016: D+27.1 2012: D+30.7 2008: D+28.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.51%
• Current HPI: 293.564
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+614.5% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $142,900 REINMLS
• 2026-02-04 Listed $149,900 REINMLS
• 2019-05-30 Sold (Public Records) $125,000 Public Records
• 2007-11-06 Sold (Public Records) $125,000 Public Records
• 2003-09-04 Sold (Public Records) $20,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $793 · +0.0% YoY. Source: county tax records.